Abu Dhabi residential sales gained pace in Q3; prices showed moderate declines, says Chestertons

Abu Dhabi residential sales gained pace in Q3; prices showed moderate declines, says Chestertons

Abu Dhabi residential sales gained pace in Q3; prices showed moderate declines, says Chestertons

Abu Dhabi's real estate market saw a rise in transactions over Q3, with market activity continuing to gain pace following the easing of social distancing measures in May, according to the Chestertons' Observer: Abu Dhabi Market Report Q3 2020.

Although apartment and villa sales prices continued to fall on average, the rate slowed to 0.6% and 0.2%, respectively. On an annual basis, average apartment prices fell by 4.8%, with villas seeing a decline of 4.7%.Chris Hobden, Head of Strategic Consultancy, Chestertons MENA, said: “Abu Dhabi enjoyed a more active third quarter, with both sales prices and rental rates showing greater stability.

“COVID-19's economic impact will undoubtedly continue to weigh on rental rates short-term, with improvements in residential market performance